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Odaily Planet Daily News According to a report written by contributors from Steakhouse Financial, Sky (formerly MakerDAO) incurred a loss of $5 million in the first quarter of this year due to a doubling in interest payments to token holders. This loss is in stark contrast to the previous quarter when Sky achieved a profit of $31 million. The primary reason for the 102% increase in interest expenses is that Sky decided to incentivize users with higher rewards to adopt its newly launched stablecoin, Sky Dollar (USDS), to replace the existing DAI.

PANews reported on May 14 that according to The Block, the cryptocurrency investment company Twenty One Capital (stock code CEP), supported by Cantor Fitzgerald, Tether, and SoftBank, has purchased 4,812 bitcoins valued at $458.7 million. This is the first of many buy orders promised by the company. A securities filing on Tuesday showed that the stablecoin issuer Tether completed the purchase shortly after the establishment of Twenty One Capital. The transaction is based on an agreement to use the total proceeds from subscription agreements related to the issuance of convertible bonds by publicly traded entities. The initial allocation mentioned in the "initial PIPE Bitcoin" transaction has been transferred to a wallet controlled by Tether. Once the business merger is completed, Tether will sell this batch of bitcoins to the listed company for $458.7 million. Twenty One Capital was established through a merger with Cantor Equity Partners' SPAC, holding $3.6 billion worth of bitcoin on its balance sheet at the time of its formation, making it the third-largest bitcoin holder among listed companies.